Saverin and Ganguly run B Capital Group in a filing with the US regulator SEC stated it has raised the amount for venture capital investments from a pool of 18 investors. B Capital invests in sectors such as ecommerce, financial services, health & wellness and travel & transportation.Pranbihanga Borpuzari | ECONOMICTIMES.COM | May 20, 2016, 17:07 IST

Facebook co-founder Eduardo Saverin and prominent Silicon Valley investor Raj Ganguly have closed a $143 million fund Asia focus fund, with special emphasis on India and South East Asia.

Saverin and Ganguly run B Capital Group in a filing with the US regulator SEC stated it has raised the amount for venture capital investments from a pool of 18 investors. B Capital invests in sectors such as ecommerce, financial services, health & wellness and travel & transportation.

The duo states that the focus on India and South Asia is primarily because the region still faces many gaps. "Whether it is funding availability, stage, talent, institutions, or exits, the presence of such whitespaces in the ecosystem makes it equally challenging and rewarding for investors," said Saverin and Ganguly in a blog post.

B Capital has a exclusive partnership with the Boston Consulting Group and Saverin and Ganguly says it is very excited and bullish in the long run because it sees an opportunity to bridge gaps and make a positive impact in a community of two billion people.

The fund is more likely to invest in Series B and C rounds as it feels there are potential openings in that segment. The fund has a presence in the Silicon Valley and is based in Singapore in Asia. It has already made investments in Menlo Park-based Evidation Heatlth, a population health management and analytics platform and Singapore-based Ninja Van, a last-mile logistics company for E-Commerce delivery and return.

Saverin and Ganguly says while there has been a lot of excitement in e-commerce, the rapid rise and adoption of e-commerce means existing infrastructure and processes will require an upgrade. "We're already seeing how traditional logistics is broken when it comes to e-commerce in Southeast Asia. The same goes for many others - from demand generation to customer acquisition to inventory management to order and subscriptions management and payments. And with that, we will also see innovation in the underlying core technologies that power business processes such as big data, AI, robotics, blockchain, and AR/VR," said Saverin and Ganguly in the post.